| Credit Answers Review |
 Busy, busy, busy, is how one could describe the Credit Answers website. Even on the homepage, there is so much information that you can become overwhelmed quickly. Quick facts about Credit Answers: Founded in: 2006 (?) Years in Business: 3 Number of employees: Not disclosed. BBB Rating: F BBB complaints: 72 complaints have been filed against this company within the last 36 months, of which 34 were closed. There are two open complaints that have not received a response from Credit Answers. Free Information: There is a fair amount of free information on their website. Also you can get information from their toll-free number and by filling out a web form on their website. Escrow or Payment Plan Available: Credit Answers uses a payment plan. They make it known in no uncertain terms that they do not take your monthly payments that you are accumulating towards being able to make settlement offers to your creditors from your own account. They only collect the monthly fees for their services directly from you. Source of Funds: Your monthly payments. Fee Structure: A low 12% fee for the amount of debt that is entered into their program. Then, a monthly maintenance fee of $49.95 thereafter which is rather high and wipes out any savings from the smaller initial 12% fees. Avg Settlement: Not disclosed. Refund Policy: They have a guarantee of results which is a way of offering to pay you the difference between your settlement about and the original 12% of the debt enrolled into the program. About the Company 
Credit Answers says that they have been in business since 1988 (even on the BBB website), but in a call to a representative they stated that they have been in business since 2005. So something is not right, which might mean that they have gone through a name change. Beginning the Process Contact them via their toll-free number or by filling out the form on their website. Types of Debt Serviced Unsecured .Worth Noting This Plano, Texas company should win an award for the sheer amount of information provided on debt settlement. It is clear that they take a “more is better” approach when providing you the information that you need to help you make a decision on whether or not debt settlement is right for you. The only area lacking is in telling you what their fees and charges are for their services. This had to be obtained from a third-party review website. Program Caution and Your Responsibilities You have to read the application and fine print closely before signing up for their program. Make sure you understand both your rights and responsibilities before proceeding. Will Debt Collectors Still Call? They leave the question about creditor calls up to you, but they offer assistance when needed. In other words, they are not like other companies that take aggressive action to try to stop the calls altogether. Other Information They state that if you have at least $7,500 in credit card debt, then give them a call. It is not clear if they will work with you below that threshold, but it does not look good. The bad rating by the Better Business Bureau raises concerns about whether or not they are a good company to deal with when it comes to debt settlement. The complaints were all over the board when looking at the categories, but the most disconcerting are the ones that have to do with issues over refunds or exchanges. Related Articles: |
| < Prev | Next > |
|---|